Satoshi Nakamoto Blog
Image default
Community banking growth strategies m&a virginia

Southwestern Virginia banks announce merger


First Community Bankshares in Bluefield, Va., has agreed to buy Highlands Bankshares in Abingdon, Va.

The $2.2 billion-asset First Community said in a press release Wednesday that it will pay $91 million in stock for the parent of the $612 million-asset Highlands Union Bank. The deal is expected to close in the fourth quarter.

“This natural partnership brings like-minded bankers and customers together to create an even stronger franchise to serve the people and communities of the tri-state Highlands region,” Will Stafford, First Community’s chairman and CEO, said in the release. “Both banks’ stakeholders are an integral part of this area and share its values of hard-work and community involvement.”

Banks Street Partners, Pitman Law Firm, Fox Rothchild and Bowles Rice advised First Community. Stephens Inc. and Nelson Mullins Riley & Scarborough advised Highlands.



Source link

Related posts

Outdated policies frustrate banks’ deposit-gathering efforts

satoshi

New firm sees opening to provide investment services to community banks

satoshi

FDIC approves Massachusetts de novo application

satoshi

Cambridge Financial in Massachusetts to buy neighboring bank

satoshi

Is It Burnout or Boredom? The Answer Matters.

satoshi

5 Tips for Expanding Your Small Business (The Right Way)

satoshi